Pfizer Cuts Jobs - KCBD NewsChannel 11 Lubbock

1/14/09

Pfizer Cuts Jobs

Posted:

Drug maker Pfizer is trimming its research department.  The drug maker says it expects to lay off 800 of its researchers in an effort to cut costs.  The pharmaceutical giant had taken a beating after pouring billions of dollars in developing several drugs it was not able to bring to market. 

Pfizer is also set to lose copyright protection in 2011 on its popular cholesterol lowering drug Lipitor, which brings in a quarter of the company's annual profits. 

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